Question
When a company buys equipment for $157,000 and pays for one fourth in cash and the other three fourths is financed by a note payable,
When a company buys equipment for $157,000 and pays for one fourth in cash and the other three fourths is financed by a note payable, which of the following are the effects on the accounting equation?
a. Total liabilities increase $157,000.
b. Total liabilities decrease $39,250.
c. Total assets increase $157,000.
d. Total assets increase $117,750.
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Business Security Audit And Review Toolkit The Modern Toolkit For Security And Risk Professionals To Grow Their Business And For The Business Owners.
Authors: L Burke Files, Gamal Newry, Ibrahim Yeku
1st Edition
1674831315, 978-1674831312
